The federal Social Security Act A. Does not apply to self-employed persons. B. Excludes professionals such...
The federal Social Security Act
A. Does not apply to self-employed persons.
B. Excludes professionals such as accountants, lawyers, and doctors.
C. Provides for a deduction for Social Security taxes paid by the employee that is available against his or her federal income tax.
D. Provides that bonuses and commissions paid as compensation are included as wages in the calculation of employer-employee contributions.
Homework Answers
| The federal Social Security Act Provides that bonuses and commissions paid as compensation are included as wages in the calculation of employer-employee contributions. |
| According to Sec. 3121(a) all remuneration paid in the course of employment are included as wages in the calculation of employer-employee contributions. |
| Option D is correct |
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The federal Social Security Act
A. Does not apply to self-employed persons.
B. Excludes professionals such...
47. Which of the following statements regarding Social Security are CORRECT? 1. Self-employed individuals may deduct...
47. Which of the following statements regarding Social Security are CORRECT? 1. Self-employed individuals may deduct the 100% payroll tax paid on their net Schedule C income as an above-the-line deduction from adjusted gross income. 2. Medicare taxes are 2.9% of an employee's compensation (paid half by the employer and half by the employee) with no ceiling (not including the Additional Medicare Tax). 3. Workers who are not covered by Social Security and do not pay into the system may...
33. Concerning Social Security tal Employees can choose to opt out of Social Security following the...
33. Concerning Social Security tal Employees can choose to opt out of Social Security following the repeal of the indical mandate. thi Funding is provided by employee but NOT employer contributions under the growions of the Federal Insurance Contributions ACT (FICA) IcEmployees can retire beginning at age 55, with actuarial mathematically derheber increases to are 75 Id Annual Social Security benefits to retirees currently range from 20% to of preretirement income. le) Contributions are put into a fund that is...
Section A—DIRECTIONS: Each of the following statements is either true or false. Unless directed otherwise by...
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help me with 15-20 and also the schedule 1 form with the blanks that have 10,...
help me with 15-20 and also the schedule 1 form with the blanks
that have 10, 21, 22, 31a, and 36
Note: This problem is for the 2018 tax year. Alfred E. Old and Beulah A. Crane, each age 42, married on September 7, 2016. Alfred and Beulah will file a joint return for 2018. Alfred's Social Security number is 111-11-1109. Beulah's Social Security number is 123-45-6780, and she adopted "old" as her married name. They live at 211 Brickstone...
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Alfred E. Old and Beulah A. Crane, each age 42, married on September 7, 2016. Alfred...
Alfred E. Old and Beulah A. Crane, each age 42, married on
September 7, 2016. Alfred and Beulah will file a joint return for
2018. Alfred's Social Security number is 111-11-1112. Beulah's
Social Security number is 123-45-6789, and she adopted "Old" as her
married name. They live at 211 Brickstone Drive, Atlanta, GA
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Alfred was divorced from Sarah Old in March 2016. Under the
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47. Which of the following statements regarding Social Security are CORRECT? 1. Self-employed individuals may deduct the 100% payroll tax paid on their net Schedule C income as an above-the-line deduction from adjusted gross income. 2. Medicare taxes are 2.9% of an employee's compensation (paid half by the employer and half by the employee) with no ceiling (not including the Additional Medicare Tax). 3. Workers who are not covered by Social Security and do not pay into the system may...
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help me with 15-20 and also the schedule 1 form with the blanks
that have 10, 21, 22, 31a, and 36
Note: This problem is for the 2018 tax year. Alfred E. Old and Beulah A. Crane, each age 42, married on September 7, 2016. Alfred and Beulah will file a joint return for 2018. Alfred's Social Security number is 111-11-1109. Beulah's Social Security number is 123-45-6780, and she adopted "old" as her married name. They live at 211 Brickstone...
Alfred E. Old and Beulah A. Crane, each age 42, married on
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30304.
Alfred was divorced from Sarah Old in March 2016. Under the
divorce agreement, Alfred is to pay Sarah $1,250 per month for the
next 10 years...
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